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How much is monthly car loan payment

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Reference no: EM133004070

You need a car loan of $100,000 from a bank in Singapore. The bank charges an annual interest rate of 6% (stated on a "flat" basis) for a 5-year loan with monthly payments

a. How much is your monthly car loan payment?

b. How much is EAR of this loan?

Reference no: EM133004070

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